Open Market Through Stock Exchange | ₹130.00 Crores | Listing at BSE, NSE | Wed, Jul 20, 2022 - Thu, Jan 19, 2023
Techno Electric & Engineering Company Ltd. Buyback is a tender offer for the repurchase of up to equity shares at a buyback price of ₹325 per share with a face value of ₹2 per share, aggregating to ₹130.00 crores.
The buyback opens on Jul 20, 2022 and closes on Jan 19, 2023.
Investors are advised to refer to the Techno Electric & Engineering Company Ltd. Letter of Offer for detailed information, including eligibility criteria, entitlement ratio, acceptance methodology, and tax implications.
Offer Opening Date
Wed, Jul 20, 2022
Offer Closing Date
Thu, Jan 19, 2023
Buyback Price
₹325 per share
Record Date
[.]
| Period Ended | Total Revenue | Profit After Tax | Net Worth | Reserves and Surplus |
|---|---|---|---|---|
| 31-Mar-20 | 922.68 | 179.1 | 1480.25 | 1458.25 |
| 31-Mar-21 | 956.08 | 181.78 | 1596.01 | 1574.01 |
| 31-Mar-22 | 1219.15 | 258.44 | 1814.68 | 1792.68 |
| Amount in ₹ Crore | ||||
Techno Electric & Engineering Company Limited (TEECL) provides Engineering, Procurement and Construction (EPC) services to core sector industries in India. TEECL is one of India's most important power-infrastructure companies. Incorporated in 1963, Techno Electric & Engineering Company is headquartered in Kolkata and operations are spread across India and abroad.
The company is engaged in electricity generation, transmission and distribution. TEECL is also an independent renewable energy producer with 129.9 MW wind energy capacity.
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Jun-2022 | 294.00 | 231.00 | 275.34 |
| May-2022 | 314.95 | 251.50 | 284.35 |
| Apr-2022 | 302.00 | 248.90 | 278.98 |
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Jun-2022 | 294.85 | 231.20 | 275.86 |
| May-2022 | 314.90 | 250.85 | 284.63 |
| Apr-2022 | 302.00 | 248.55 | 278.98 |
The buyback is being undertaken for the following reason:
Techno Electric & Engineering Company Ltd.
1B, Park Plaza,
South Block, 71, Park Street,
Kolkata-700016
Kolkata, West Bengal, 700016
Lead Manager(s)
Registered Broker
The Techno Electric Buyback opens on July 20, 2022, and closes on January 19, 2023.
The Techno Electric Buyback is a Open Market Through Stock Exchange.
Techno Electric Buyback Schedule
| Buyback Opening Date | July 20, 2022 |
| Buyback Closing Date | January 19, 2023 |
| Last date for acceptance of shares | Upon relevant pay-out by the Stock exchange |
The Techno Electric Buyback is being offered at Rs ₹325 per share.
There is no ratio applicable in case of open market offer through stock exchange mechanism.
The Techno Electric Buyback has announced a buyback for an aggregate amount of not more than Rs. ₹130.00 Crores with pricing of Rs. ₹325 per share.
The buyback is being undertaken for the following reason:
Any equity shareholder holding the shares in Demat form can participate in the buyback offer through their stockbroker. The physical shareholder can participate only once the shares get converted into a Dematerialized form.
The shareholder needs to inform their broker on the details of the Equity shares they wish to sell. The broker will place a sell order whenever the company places a buy order for the buyback. The trade would get executed at the offer price or lesser only when the price offered by the shareholder matches with the buy order placed by the company.
The Techno Electric Buyback offers an opportunity for the shareholders to exit their positions at a premium price. In case you stay invested you would have an increased percentage of shareholding in the company and improved earnings per share. Thus, one should understand the company fundamentals along with one's need, goals, and risk appetite to decide if one wants to stay invested or participate in the buyback offer.
